If An individual is running a computer / vocational training institue, whether it will be considered buinsess / profession for the purpose of Tax Audit u/s 44 AB?
C Sudarshan (Proprietor) (24 Points)
05 May 2011If An individual is running a computer / vocational training institue, whether it will be considered buinsess / profession for the purpose of Tax Audit u/s 44 AB?
Amol Gopal Kabra (CA,CS,DISA)
(Practicing CA)
(8539 Points)
Replied 05 May 2011
It shall be considered as a profession and the limit of Rs. 15 lakhs shall be applicable.
CA Navin Jain
(MANAGER (FINANCE & ACCOUNTS))
(11768 Points)
Replied 05 May 2011
yes,It shall be considered as a profession
CAclubindia
